One deal was concluded on the uranium spot market last week. It’s quiet, but at least the spot price isn’t tumbling.
Brokers are broadly positive on the proposed merger of Lihir and Equigold, particularly from the Lihir side given the geographical diversification the deal would provide.
The new Bear Stearns deal highlights the Fed’s immediate need to prevent meltdown in the banking system, as central bankers across the globe hook up to spend Easter discussing what else still needs to be done.
Australia is in holiday mode data-wise this week but the US story bungles on.
Financial market issues appear far from finished and this implies further weakness in the US dollar but the speed of recent falls means a short-term bounce is possible.
National Australia Bank doesn’t expect a quick turnaround in the US economy and has revised down its growth forecasts accordingly.
AWE has decided to conduct a review of Tui oil reserves, and given strong production numbers analysts are expecting good things.
Weekly musings from your editor, who looks like a goose on Thursday morning as the US market did exactly the opposite he thought it would do. Wednesday’s version has been amended.
Financial markets have begun to factor in rate cuts in Australia this year but brokers suggest ongoing inflationary pressures mean the bias remains in favour of higher rates.
Higher interest rates will impact on activity in the sector but St George Bank expects Australian residential property prices will grow by 5-10% over the next year.
